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| 3.3 |  | **Rent**. The Lessee shall pay rent in an amount equal to the Hourly Rent specified in
Schedule A attached hereto for each Flight Hour of use of the Aircraft by Lessee. The
amount of Hourly Rent paid during the calendar year (or prorated portion thereof) shall be
compared to the actual utilization costs of the aircraft at the end of each calendar year
beginning December 31, 2008, considering the factors set forth in Schedule B. If the actual
utilization costs exceed the amount of Hourly Rent paid, Lessee shall pay the amount of such
excess to Lessor by the Rent Payment Date in January of the immediately following year. If the
amount of Hourly Rent paid during the calendar year (or prorated portion thereof) exceeds the
actual utilization costs, Lessor shall apply the amount of such excess to the account of
Lessee for credit against future Hourly Rent which is due under this Agreement. All rent
accrued during any calendar month shall be payable in arrears on the Rent Payment Date in the
immediately succeeding calendar month without further demand or invoice. All rent shall be
paid to the Lessor in immediately available U.S. funds and in form and manner as the Lessor in
its sole discretion may instruct Lessee from time to time. In the event the Lease is
terminated by either party pursuant to Section 3.1, Lessee shall pay upon demand all
outstanding Hourly Rent for each used Flight Hour. |
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| 3.4 |  | **Taxes**. Neither rent nor any other payments to be made by Lessee under this Agreement
includes the amount of any Taxes which may be assessed or levied by any Taxing Jurisdictions